CrowdStrike shares spike after first quarterly report since global outage

Published: Aug 27, 2024 Duration: 00:03:37 Category: News & Politics

Tags : Breaking News money World News us news financial news news channel stock market stocks business news CNBC news station finance stock cable cable news finance news money tips stock market news Closing Bell Overtime

Trending searches: crowdstrike earnings

WE ARE GOING THROUGH IT. WE'LL BRING YOU THOSE NUMBERS. WE'VE GOT THEM. LET'S GET TO STEVE KOVACH WITH THOSE NUMBERS. >> LIKE YOU SAY, WE'RE SEEING THE STOCK UP NEARLY 5% ON THESE NUMBERS. WE CANNOT COMPARE IT TO ESTIMATES QUITE YET. EPS IS COMING IN AT $1.05 ADJUSTED AND REVENUE COMING IN AT $964 MILLION ADJUSTED. SHARES BACK A LITTLE BIT. WE'RE GOING TO KEEP DIGGING THROUGH AND SEE WHAT THEY SAY ABOUT THE I.T. OUTAGE. I'LL SEND THINGS BACK TO YOU FOR NOW. >> THANK YOU. WE'LL LOOK FOR MORE. PATRICK, TO YOU ON THIS ONE, AND REALLY LOOKING AT THE OVERALL ENTERPRISE LANDSCAPE RIGHT NOW. THERE SEEMS TO BE A LOT OF UNCERTAINTY, BUT A SPECIAL KIND OF UNCERTAINTY AROUND A NAME LIKE CROWDSTRIKE THAT HAD THAT BIG OUTAGE THAT BROADLY AFFECTED SO MANY CUSTOMERS. IF WE JUST PUT NVIDIA TO THE SIDE AND LOOK AT WHAT THE ENTERPRISE ITSELF IS DOING IN THIS ECONOMIC ENVIRONMENT, HOW STRONG IS DEMAND? HOW STABLE? >> YEAH, SO RIGHT NOW THE DOWNSTREAM EFFECTS OF AI OR THE OPPORTUNITY FOR AI, IT CHANGED EVERYTHING. WHAT YOU HAD IS BOARD DIRECTIVES COMING DOWN AND SAYING, LISTEN, PAUSE EVERYTHING FOR A WHILE UNTIL WE FIGURE OUT THIS AI STRATEGY. WE HAVE THAT. AND THEN YOU HAVE FOLKS ESSENTIALLY SAYING, HEY, WE BOUGHT ALL THIS STUFF DURING COVID, WE NEED TO CHEW THROUGH IT AND GET BENEFIT FROM THAT. MARC BENIOFF HAS BEEN TALKING THROUGH THAT. BUT RIGHT NOW EVERYTHING IN ENTERPRISE IS FOCUSED ON AI. THEIR BUDGETS ARE BEING REDUCED, NON-AI BUDGETS, TO MAKE WAY FOR THOSE AI BUDGETS. AND THAT CAN BE INFRASTRUCTURE, THAT'S SOFTWARE, AND THAT'S SERVICES. >> OKAY, PAUL, ON CROWDSTRIKE'S RESULTS SO FAR, THE STOCK IS HIGHER AND THEY HAD SOME DETAIL THAT I WON'T TRY TO GET TO BECAUSE STEVE KOVACH IS GOING TO DO THAT, ON ALL THE PROVISIONS THAT THEY HAVE IN THE GUIDANCE FOR MAKING GOOD WITH CUSTOMERS OVER THIS OUTAGE. HOW MUCH DO INVESTORS NEED TO KNOW BEFORE THEY CAN FEEL COMFORTABLE GETTING BACK INTO A STOCK LIKE THIS? >> SO I THINK IT'S BEEN, YOU KNOW, ABOUT A MONTH SINCE THE OUTAGE HERE, AND SO THE RAMIFICATIONS OF THAT AND THE DAMAGES OR WHAT THEY'RE GOING TO HAVE TO MAKE GOOD TO CUSTOMERS ON IS STILL UNSEEN. BUT WE HAVE TO REMEMBER BEFORE THIS HAPPENED, CROWDSTRIKE WAS FIRING ON ALL CYLINDERS, FUNDAMENTALS WERE VERY GOOD. SO IT'S GOING TO TAKE SOME TIME. BUT I THINK IF YOU LOOK BACK, IF YOU GO AHEAD LIKE TWO YEARS FROM NOW, 18 MONTHS FROM NOW, YOU'LL LOOK BACK WHERE WE ARE NOW, IT WOULD PROBABLY BE LOOKED AT AS A GOOD TIME TO BUY. IT'S RALLIED 33% OFF ITS LOWS, BUT IT'S STILL DOWN A THIRD FROM ITS HIGH BEFORE THE OUTAGE. IT'S GOING TO TREAD AROUND HERE FOR A WHILE, BUT LONGER-TERM THEY'LL GET BACK ON TRACK. >> WE TALKED ABOUT THE SECULAR GROWTH STORY IN AI. THE SECULAR GROWTH STORY OF CYBERSECURITY IS CROWDSTRIKE AND AI HERE. >> THERE'S A STRONG HEADWIND. GOING INTO THE JULY EVENT WE SAW PUBLIC CLOUD VENDORS AND SERVICERS REALLY INVESTING MONEY IN R&D IN THIS AREA. WE THINK THAT'S GOING TO BE FURTHER PERPETUATED BY AN EVENT LIKE JULY 19th. WE THINK IN TERMS OF A COMPETITIVE LANDSCAPE OR HEADWINDS FOR CROWDSTRIKE, THIS ONE, FOR US, IS NOT NECESSARILY AN AREA OF ENTRY

Share your thoughts

Related Transcripts

Cloud computing environment remains 'very healthy', says Goldman Sachs' Eric Sheridan

Category: News & Politics

>>> welcome back big tech and chips boosting the nasdaq and powering the remarkable turnaround in the major averages joining us now is eric sheridan who is in san francisco at the annual communacopia conference it's great to have you you led quite a number of conversations including with the heads... Read more

Apple's iPhone 16 line should convince a lot of consumers to upgrade, says Creative Strategies CEO

Category: News & Politics

>>> welcome back. friday here on "overtime", i walked you through some things super cycles have had in common to handicap whether we'll get one this time or not. there are three categories. new network and ai cape tblts like with the iphone 4s facetime and geographic expansion like when the china... Read more

Adobe CEO Shantanu Narayen: 'We had a very strong Q3 across all aspects of the business'

Category: News & Politics

7% sharing surging today. >> up some 17% just about in overtime thanks adobe shares falling in overtime after results beating on both lines. guidance though coming in short of expectations. joining us now ahead of the conference call with analysts is the adobe ceo. good to see you. strong performance... Read more

First private spacewalk crew Shift4 talk countdown to historic mission

Category: News & Politics

>>> nearly three years after -- made history@inspiration for space flight r, he is headed back to space. polaris is scheduled to launch august 26th and it too will be historic. the all civilian crew will spend five days in orbit inside a dragon capsule flying higher than any humans have since... Read more

Sunnova CEO talks outlook for solar energy ahead of election

Category: News & Politics

Investments in clean energy. outperformers today include first solar, sunrun, and solar edge sunova's founder, chair, and ceo is with us not only did we see solar stocks move higher today, but in the case of your company specifically, dramatic moves in the past month, the past three months how much... Read more

Peloton co-founder John Foley resigns, Karen Boone takes over as board chair

Category: News & Politics

Overseas as you mentioned. we'll see if that ends up working. thanks a lot. >>> breaking news on peloton bertha coombs has the story. >> ceo barry mccarthy announcing the company's co-founders have resigned executive chair john foley stepping down effective immediately six months after the co-founder... Read more

We can go between markets that other airlines can't, says Breeze Airways CEO David Neeleman

Category: News & Politics

Introduction >>> welcome back. low cost airline breeze airways offering new stops, portsmouth, new hampshire and telluride, colorado. they screened a record number of passengers on july 7th topping 3 million in a day for the first time ever. joining us now is breeze airways ceo and founder david... Read more

US Open: Coco Gauff’s coach Brad Gilbert gives his verdict on the American’s progress amid criticism

Category: Sports

Coco gf s coach brad gilbert has expressed his confidence that good things will happen for american star after her difficult 2024 us open campaign former world no4 highlighted the fact goff has accomplished a lot during the pair s player coach relationship and pointed to the 20-year-old s huge upside... Read more

Pat Toomey on House GOP debt limit bill: Kevin McCarthy pulled off something very impressive

Category: News & Politics

Pat toomey on house gop debt limit bill >>> house speaker kevin mccarthy scoring a victory in washington's show down over the debt ceiling with republicans squeezing a bill through the house that would extend the debt limit for a year in return for spending cuts and support for the fossil fuel industry... Read more

Evercore's Daryanani: Apple Intelligence details will help determine if this will be a super cycle

Category: News & Politics

From donald trump when he bashed gary gensler, not a fan, that industry. >> gensler doesn't have a lot of fans. >>> turn back to apple, the company expected to unveil its newest watches, air pods, lot of things as well as the latest apple intelligence. joining us to discuss evercore's isi, $250... Read more

Reddit co-founder Alexis Ohanian on the rise of women's sports

Category: News & Politics

>>> welcome back, everybody. now for a look at investing in women's sports. the paris games and much more. we've got alexis ohanian, venture capitalist, and former executive editor of reddit. he's the founder of 776. instead of jumping right in with what your newest news is in track and field, i... Read more

We're still in the early innings of AI, says Goldman Sachs' George Lee

Category: News & Politics

>> that, ofcourse, nvidia's ceo, jensen huang, speaking at the goldman sachs communacopia and technology conference. joining us is george lee, the co-head of the goldman sachs global institute nice to see you. welcome to our program >> great to be here. >> i feel like jensen set this up perfectly... Read more